Oppenheimer Asset Management Inc. Has $11.53 Million Position in Centene Corporation (NYSE:CNC)

Oppenheimer Asset Management Inc. cut its stake in shares of Centene Corporation (NYSE:CNC) by 6.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 119,098 shares of the company’s stock after selling 7,586 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.07% of Centene worth $11,526,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan grew its holdings in shares of Centene by 45.7% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 7,910 shares of the company’s stock worth $632,000 after acquiring an additional 2,480 shares during the period. Great West Life Assurance Co. Can grew its holdings in shares of Centene by 0.7% in the 2nd quarter. Great West Life Assurance Co. Can now owns 120,847 shares of the company’s stock worth $9,635,000 after acquiring an additional 882 shares during the period. CIBC Asset Management Inc grew its holdings in shares of Centene by 0.4% in the 2nd quarter. CIBC Asset Management Inc now owns 15,845 shares of the company’s stock worth $1,266,000 after acquiring an additional 56 shares during the period. IFP Advisors Inc grew its holdings in Centene by 9.6% during the 2nd quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock valued at $155,000 after buying an additional 170 shares during the last quarter. Finally, Retirement Systems of Alabama grew its holdings in Centene by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 83,530 shares of the company’s stock valued at $6,672,000 after buying an additional 374 shares during the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

Centene Corporation (NYSE:CNC) traded down $2.02 on Friday, hitting $100.88. The stock had a trading volume of 769,772 shares, compared to its average volume of 1,537,226. The company has a market capitalization of $17,757.09, a PE ratio of 20.67, a PEG ratio of 1.48 and a beta of 0.71. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.99 and a current ratio of 0.99. Centene Corporation has a 52 week low of $55.89 and a 52 week high of $104.65.

Centene (NYSE:CNC) last announced its earnings results on Tuesday, October 24th. The company reported $1.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.11. Centene had a return on equity of 14.79% and a net margin of 1.81%. The firm had revenue of $11.90 billion for the quarter, compared to analysts’ expectations of $11.75 billion. During the same quarter in the previous year, the company earned $1.12 earnings per share. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. equities analysts forecast that Centene Corporation will post 4.99 earnings per share for the current fiscal year.

In other Centene news, EVP Jesse N. Hunter sold 10,000 shares of Centene stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $98.73, for a total transaction of $987,300.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert K. Ditmore sold 4,167 shares of Centene stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $90.42, for a total transaction of $376,780.14. The disclosure for this sale can be found here. 3.00% of the stock is owned by insiders.

A number of equities research analysts have commented on the company. Leerink Swann reiterated a “market perform” rating and set a $90.00 target price (up previously from $78.00) on shares of Centene in a report on Wednesday, September 13th. Cowen reissued an “outperform” rating and set a $105.00 price target (up previously from $77.00) on shares of Centene in a research note on Wednesday, September 13th. Zacks Investment Research raised Centene from a “hold” rating to a “strong-buy” rating and set a $117.00 target price on the stock in a research report on Tuesday. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $134.00 target price on shares of Centene in a research report on Monday, December 18th. Finally, Jefferies Group increased their target price on Centene from $112.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, December 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $102.50.

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Centene Company Profile

Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.

Institutional Ownership by Quarter for Centene (NYSE:CNC)

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